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T-Z
Rally
An advancing price movement following a decline
in a market.
Range
The difference between the highest and lowest
prices recorded during a given trading period.
Ratio
Spread
Any spread where the number of long market contracts
and the number of short market contracts are
unequal.
Refiner-Distributor
A company that acts as a wholesaler of gasoline,
heating oil, or other products which operates its own
refinery; may also retail and buy additional supplies to
supplement its own refining output.
Refinery
A plant used to process crude oil or metals. An oil
refinery separates the fractions of crude oil and converts
them into usable products. A metals refinery removes
impurities, bringing the metal up to designated purity
specifications.
Refinery
Margin
The difference between a refinery’s cost to produce
a product and the amount it will procure from the
sale of the product.
Reforming
Process
The use of heat and catalysts to effect the
rearrangement of certain hydrocarbon molecules without
altering their composition appreciably; for example, the
conversion of low-octane naphthas or gasolines into
high-octane number products.
Reportable
PositionN
The number of futures contracts, as determined
by an exchange or a regulatory authority, above which a customer must be identified
daily to the Exchange and to the Commission with regard
to the size of his position by commodity, by delivery
month, and by purpose of the trading.
Residual Fuel Oil
Heavy fuel oil produced from the residue in the
fractional distillation process rather than from the distilled
fractions.
Resistance
Opposite of support.
Rollover
A special futures straddle trading procedure
involving the shift of one month of a straddle into another
future month while maintaining the other contract month
of the original spread position. The shift can take place in
either the long or short straddle month.
Round Lot
A quantity of a commodity equal in size to the
corresponding futures contract for the commodity, as
distinguished from a job lot, which may be larger or
smaller than the contract.
Round-Turn
The completion of both a purchase and sale of a
commodity futures contract.
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